Open immediately, Projects must be constructed by January 1, 2025.

30% of project cost, no maximum to be claimed.

• Internal Revenue Service (IRS)
• Department of the Treasury

• Residential and Commercial ITC Factsheets | U.S Department of Energy 
• See Investment Tax Credit table under 1 megawatt and over 1 megawatt (below)
• Code: 26 USC §48 

Open immediately, Projects must be constructed by January 1, 2025.

N/A

• Internal Revenue Service (IRS)
• Department of the Treasury

• Renewable Electricity Production Tax Credit Information | U.S. EPA 
• See Production Tax Credit table under 1 megawatt and over 1 megawatt (below)
• Code: 26 USC §45

Credits start January 1, 2025 and begin to be reduced after January 1, 2034 or when emission targets are achieved (i.e., the electric power sector emits 75% less carbon than 2022). 

30% of project cost, no maximum to be claimed.

• Internal Revenue Service (IRS)
• Department of the Treasury

• See Investment Tax Credit table under 1 megawatt and over 1 megawatt (below)
• Code: 26 USC §48E 

Credits start January 1, 2025 and begin to be reduced after January 1, 2034 or when emission targets are achieved (i.e., the electric power sector emits 75% less carbon than 2022). 

N/A

• Internal Revenue Service (IRS)
• Department of the Treasury

• See Production Tax Credit table under 1 megawatt and over 1 megawatt (below)
• Code: 26 USC §45Y 

Credits available beginning January 1, 2023.

• Internal Revenue Service (IRS)
• Department of the Treasury

Criteria for bonus eligibility:

• A 10% bonus for projects located in energy communities (defined as brownfield sites or fossil fuel communities). 
• A 10% bonus for meeting domestic manufacturing requirements for steel, iron, or manufactured components. 
• A 10% bonus for projects located in low-income communities or on Tribal land; 20% bonus for projects located in low-income residential buildings or part of low-income economic benefit projects. 

Building owners can get an additional 179D deduction every three years for subsequent energy efficiency improvements. 

• Deduction: The deduction for a 25% reduction is $0.50 per square foot, increasing by $0.02 per square foot for every additional percentage point reduction, capped at $1.00 for a 50% reduction. 
• Bonus: A bonus exists for prevailing wage and apprenticeship. If the prevailing wage and apprenticeship requirements are met, the deduction for a 25% reduction earns $2.50 per square foot, increasing by $0.10 per additional percentage point of reduction. The maximum deduction with the bonus totals $5 per square foot for a 50% energy reduction.  

• Internal Revenue Service (IRS)

• Reference Standard 90.1
• Code: 26 USC §179D 

January 2023 – December 31, 2032.

• Single-family and Manufactured Homes: Can collect up to $2500 for meeting the Energy Star Program requirements, and $5000 for meeting the DOE Zero Energy Ready Home criteria. 
• Multifamily Homes: Can collect $500 per Energy Star-compliant unit and $1000 per Zero Energy Ready Home-compliant unit. 
• The credits on multifamily homes increase to $2500 and $5000 respectively if they satisfy prevailing wage requirements. 
• Residential buildings that are four stories tall or more are eligible for both this credit and the section 179D deduction.

• Internal Revenue Service (IRS)

• Code: 26 USC §45L

January 1, 2023 through December 31, 2032.

• Deduction: The deduction for a 25% reduction is $0.50 per square foot, increasing by $0.02 per square foot for every additional percentage point reduction, capped at $1.00 for a 50% reduction. 
• Bonus: A bonus exists for prevailing wage and apprenticeship. If the prevailing wage and apprenticeship requirements are met, the deduction for a 25% reduction earns $2.50 per square foot, increasing by $0.10 per additional percentage point of reduction. The maximum deduction with the bonus totals $5 per square foot for a 50% energy reduction.  

• Internal Revenue Service (IRS)
• Department of the Treasury

• Resource: Treasury Releases Initial Information on Electric Vehicle Tax Credit Under Newly Enacted Inflation Reduction Act | U.S Department of the Treasury
• Code: 26 USC §45W
• Clean Vehicle Tax Credit Q&A | Internal Revenue Service